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5 Things to Consider When You Have Student Loans and No Job

What happens when you graduated months ago, but haven’t found a job and are starting to feel your student loans breathing down your neck? First of all, don’t panic. Start by figuring out exactly what you owe, by when. Many students loans, including direct subsidized and unsubsidized loans and Federal Stafford loans, have a six-month grace period after graduation, dropping out of school or dropping below half-time status before you need to start making payments. PLUS loans have no grace period. Grace periods on private loans and Federal Perkins loans vary wildly, so it’s important to know what exactly you owe, beginning when. These grace periods are designed to give you time to get a job after graduation. Don’t worry – you aren’t the only graduate who is reaching the end of the grace period with no employment in sight. Don’t Ignore Your Student Loans Before making any other decisions,…

Is It Time to Turn Your Side Hustle Into Your Main Gig?

More than 53 million Americans work as independent contractors according to a 2014 study issued by the Freelancers Union. LinkedIn research forecasts independent workers will comprise 40 percent of the workforce by 2020. That’s a substantial percentage of the workforce operating independently already, and a significantly larger number predicted to be working for themselves in just a couple years. The “gig economy” is in full-force  and shows no signs of slowing down. Quite a few people will likely leave their full-time jobs to work for themselves over the next couple years. The prospect of working for yourself and building your own business, free from the timeclock, corporate bureaucracy and mismatched management styles, can certainly be appealing for some, but intimidating for others. Proponents, like Chris Guillebeau, author of Side Hustle: From Idea to Income in 27 Days, says, “a side hustle is more than just another stream of income, it’s…

Tips for Moving Forward in Your Career

“Moving your career forward” is an interesting term. For a long time, people only thought about “moving up”—getting in the door at a good company and rising through the ranks. But working for a living has changed. Where “job” and “career” used to be more or less synonymous, today’s careers can span multiple jobs at multiple companies. A career is becoming more and more a journey through a series of working experiences than a measure of tenure within a company or profession. If you’re in a position where you’re feeling the need to move forward—to a higher salary, a more fulfilling occupation, a job that makes better use of your overall skill set—there are some things to keep in mind about making that kind of change. Know What’s Out There As with so many other things, wishing doesn’t make it so when it comes to changing jobs. Think carefully about…

What They Don’t Teach You

If one or more of your kids have graduated from college in the past year, then you probably know all too well how difficult it is to land a job right out of school these days. According to the US Department of Labor, the unemployment rate for graduates with bachelor’s degrees rose from 11.5 percent in 2013 to 14.9 percent in 2014. And a 2011 online poll conducted by the National Endowment for Financial Education revealed that nearly 60 percent of parents in the US provide financial support to adult children who are no longer in school. But before you start to panic (or regret spending all that money on tuition), here are five easy ways to help your college grad learn what they don’t teach you in school: namely, how to become financially independent. Help Them Distinguish Between Wants and Needs Most college grads are inclined to spend money…

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